Elkem’s Second-Quarter Results Up 68% Compared to 2021
Elkem has released results for the second quarter of 2022, reporting total operating income for the quarter of NOK 12,326 million (approx. $1,236 million), up 68% from the corresponding quarter last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to NOK 3,924 million (approx. $393 million) in the quarter, compared to NOK 1,371 million (approx. $137 million) in the second quarter 2021, reportedly reaching a new all-time high for the company.
Elkem has continued to see strong demand in all major business segments. Results were particularly driven by strong performance in the Silicon Products division. In addition, Elkem reports that its Carbon Solutions division posted its best quarterly result ever.